Pradhan Mantri Suraksha Bima Yojana is a government-backed one year accidental insurance scheme available to people between 18 and 70 years of age with bank accounts. It has an annual premium of Rs. 12/- . The GST is exempted on Pradhan Mantri Suraksha Bima Yojana. The amount will be automatically debited from the account. In case of death due to any cause, the payment to the nominee will be Rs 2 lakh.
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